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Dual resident income, paye vs repaye

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  • Dual resident income, paye vs repaye

    Thank you in advance for the help! My partner and I are both residents making about 60k a year with about 300k debt each. We will be getting married soon and are trying to figure out how payments get calculated on repaye. If we did repaye, does the calculation take into account one another's student loan debt? Or would we be paying double, because we would each have to make a payment of 10% of our combined income (120k).

  • #2
    Play around with this and you'll find all your answers to your particular situation:
    https://studentaid.gov/loan-simulator/

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    • #3
      Yes. When you're married it will take into consideration your household income and debt.

      ex. Spouse 1 60k income 300k debt, Spouse 2 60k 320k debt
      Household income 120k
      Monthly payment in REPAYE = 120k - 26,130 (PovertyLineDeduction) = $93,870 (discretionary income) * 10% = $9,387/12 = $782 (monthly payment)

      Spouse 1 portion of household debt 300k/620k = 48%
      Spouse 2 portion of household debt 320k/620k = 52%

      Spouse 1 monthly payment in REPAYE 782 * 48% = $375
      Spouse 2 monthly payment in REPAYE 782 * 52% = $407
      Helping student loan borrowers manage their student loans. StudentLoanAdvice.com. [email protected]

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